We provide services to design and build a professional internal audit function tailored to the specific characteristics and needs of each business. With an , we assist businesses in developing the internal audit department from the organizational structure design stage, defining audit strategies and objectives, to implementing processes and effective control tools. Our goal is to help businesses develop an independent and effective internal audit function, contributing to enhancing risk management capabilities, regulatory compliance, and operational optimization, thereby creating sustainable value for the enterprise.
Service Approach
Service Implementation Steps
Step 1: Initial Consultation Meeting
- Meet with the client to understand their needs and objectives in establishing the internal audit function.
- Identify existing challenges, specific requirements, and resources necessary for the project.
- Reach mutual agreement on the approach, scope of work, and clearly define the roles and responsibilities of each party.
Step 2: Develop a Plan for Establishing the Internal Audit Function
- Prepare a detailed plan for establishing the internal audit function.
- The plan will include implementation steps, timelines, required resources, and criteria for evaluating effectiveness.
- The plan will be adjusted based on the company’s strategy and specific operational requirements.
Step 3: Implement and Establish the Internal Audit Department Structure
- Upon approval of the implementation plan, proceed to establish the internal audit department.
- The work may involve designing the organizational structure, defining roles, responsibilities, and reporting lines to ensure alignment with global governance and legal compliance.
Step 4: Evaluate and Optimize the Internal Audit Function
- Assess the effectiveness of the established internal audit function.
- Evaluation activities include reviewing the adequacy of processes, risk management capabilities, and the effectiveness of reporting to leadership.
- Provide recommendations to improve and optimize the efficiency of the internal audit function.
Step 5: Issue Final Report and Project Handover
- Conclude the project by issuing a final report summarizing the establishment and implementation of the internal audit function.
- The report will detail the structure of the internal audit function, established procedures, and reporting mechanisms.
- Transfer all documents, tools, and instructions to the client, ensuring the organization has sufficient resources to maintain and develop the internal audit function after the project concludes.
Service Execution Timeline
Typically, we aim to complete the service within 8 – 12 weeks for most cases. For urgent cases with tight deadlines, we implement special measures, such as mobilizing additional resources, adjusting processes and procedures accordingly, and requiring active cooperation from the client.
The timeline for completing the service largely depends on the scope of work, feedback, and cooperation from the client (including stakeholders such as suppliers, customers, lenders, and investors).